Business Enterprise

Question 1

Entrepreneurs

Answer 1

someone who is willing to take the risks involved in starting a business

Question 2

Enterprise

Answer 2

Another a name for a business

Question 3

Reasons why someone may become an entrepreneur:

Answer 3

Want to be the boss and make their own decisions
Want to keep all the profits
Want a job
Prove something to themselves or others
Want to provide a service for others
Dissatisfied with their current job
More flexible hours

Question 4

Social enterprise

Answer 4

a business or service that helps a particular cause

Question 5

Characteristics of an entrepreneur:

Answer 5

initiative
hardworking and determined
organisational skills
decision making
innovation

Question 6

Rewards of business enterprise:

Answer 6

providing goods and services
financial rewards
personal satisfaction

Question 7

Risks of business enterprise:

Answer 7

unexpected costs
unexpected events such as a recession
lower than expected sales

Question 8

Why is the government eager to help entrepreneurs start businesses?

Answer 8

creates more jobs and reduces unemployment
provides goods and services

Question 9

How does the government help to start-up businesses?

Answer 9

maintain a stable political environment and economy
supply funding to help businesses become established
provide advice
reduce the amount of regulations
reduce taxes
encourage banks to give out loans